With assistance from Abu Timam Grant Thornton, this chapter provides an outline of the new tax regulations issued at the start of 2012, as well as rules for the establishment of foreign companies in Oman. Information is provided about tax rates, filing requirements, deductable expenses and more.
The chapter also includes a viewpoint with Nasser Said Al Mughairy, Managing Partner at Abu Timam...
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Articles & Analysis | Exciting times: A new budget comes along with a number of regulatory changes from The Report: Malaysia 2012
On September 28 2012 Najib Abdul Razak, the prime minister and minister of finance, released the 2013 budget, titled “Prospering the Nation, Enhancing Well-Being of the Rakyat: A Promise Fulfilled”. The 2013 budget aims to reduce the nation’s fiscal deficit from 4.5% of GDP in 2012 to 4% in 2013. With the projection of a positive economic outlook,...
Articles & Analysis | By the book: A look at the country’s tax code from The Report: Malaysia 2012
The Inland Revenue Board (IRB) collected a record RM109.7bn ($35.4bn) in direct taxes in 2011. Under its Corporate Plan 2012-15, launched in July 2012, the IRB is targeting an annual tax revenue growth of 15%. The IRB is working towards identifying newer opportunities in expanding the tax base and areas of tax revenue which were not fully explored...
Malaysia is a multi-ethnic society of 29m split between the Malay Peninsula and the island of Borneo. With a per-capita GDP that has hovered around $10,000 for the past decade, the country is struggling to escape a “middle-income trap”
Interviews & Viewpoints | Samir Hadj Ali, Country Managing Partner, Mazars, on integrating the tax system into the larger regulatory regime from The Report: Algeria 2012
Among the laws and regulations that have an impact on investment, tax laws and amendments introduced through finance acts are the easiest way to implement policies and meet goals that have been set by the government. By making adjustments to tax policies, these measures can be effective relatively quickly. This is why an ongoing re-structuring...
Articles & Analysis | Paying dues: An overview of local tax regulations from The Report: Algeria 2012
The Algerian tax system has been stable for 20 years under the current structure, which was designed in 1992. Both direct and indirect taxes have been simplified with appropriate regulations and a specific code of fiscal procedures, with a significant decrease of rates for income tax. The new rules implemented in 2009 for foreign direct investment (...